Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 380 - National Rental Affordability Scheme  

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History

Div 380 inserted by No 130 of 2008, s 3 and Sch 1 item 7, applicable to assessments for the 2008-09 income year and later income years.

Former Div 380 repealed by No 77 of 2001 and inserted by No 54 of 1999.

Subdivision 380-B - Payments made in relation to the National Rental Affordability Scheme etc.  

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Subdiv 380-B inserted by No 130 of 2008, s 3 and Sch 1 item 7, applicable to assessments for the 2008-09 income year and later income years.

SECTION 380-35  

380-35   Payments made and non-cash benefits provided in relation to the National Rental Affordability Scheme  

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A payment made to you, or a *non-cash benefit provided to you, (whether directly or indirectly, such as through an *NRAS consortium of which you are a *member) by:

(a) a Department of a State or Territory; or

(b) a body (whether incorporated or not) established for a public purpose by or under a law of a State or Territory;

in relation to your participation in the *National Rental Affordability Scheme is not assessable income and is not *exempt income.

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S 380-35 amended by No 62 of 2011, s 3 and Sch 3 item 13, by substituting " *National Rental Affordability Scheme " for " National Rental Affordability Scheme " , effective 29 June 2011.

S 380-35 amended by No 62 of 2011, s 3 and Sch 3 item 10, by substituting " , or a *non-cash benefit provided to you, (whether directly or indirectly, such as through an *NRAS consortium of which you are a *member) " for " or a *non-cash benefit provided to you " , applicable to assessments for: (a) the 2008-09 income year; and (b) later income years.

S 380-35 inserted by No 130 of 2008, s 3 and Sch 1 item 7, applicable to assessments for the 2008-09 income year and later income years.

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